The Worst Economic Collapse Ever?

Country after country has reported extremely dark economic numbers. The gigantic jobless claims, 6.6 million from the U.S. last week, are just the tip of the iceberg. For example, the service sector PMIs have been simply ghastly across the globe. We are now in a crisis of epic proportions. But, how massive can the crisis eventually get? […]

Adjusting to a collapsing civilization

The Covid-19 pandemic affecting us here in Vermont and internationally is one more indicator that we are now dealing in a broader perspective with the collapse of the industrial/capitalistic/military economy. The other indicators are that we have catastrophic global heating, the “Sixth Great Extinction,” the rise of fascist/authoritarian governments around the world including the United […]

Mexico Refuses to Cut Oil Output

Outside of Saudi Arabia and Russia, most oil producers are racing to deal with the historic oil price collapse by cutting back spending and in some cases production. But Mexico’s national oil company is acting like the crash never happened. Petroleos Mexicanos aims to nearly double drilling to 423 wells this year and accelerate development […]

Millions Of Barrels Of Oil Nobody Wants Are Floating In The Ocean

Oil demand is in a freefall, thanks to improvements in battery technology, the proliferation of green energy alternatives, and — let’s face it — a world on lockdown due to the deadly COVID-19 pandemic. All of these factors have come together to push barrels of oil to their lowest price in decades, but production hasn’t […]

Yergin: ‘Big Cut Is Here’

The energy sector was quick to take a red pen to the 2020 budget in March as the coronavirus turned into a pandemic and the price war continued overseas, but some operators are finding they have to cut deeper in the face of uncertain demand for oil and gas. For North American exploration and production […]

How Will This Change Us? Is There Room for Optimism?

Heidi and Tom head into a freewheeling conversation with MIT Futurist and optimist Andy McAfee. As co-founder and co-director of the MIT Initiative on the Digital Economy at the MIT Sloan School of Management, Andy studies how digital technologies are changing the world. Even Andy, sees the gravity of this moment. Heidi pushes hard on the big […]

Prepare To Have Your Worldview Obliterated

The first draft of the civil rights-eroding USA PATRIOT Act was magically introduced one week after the 9/11 attacks. Legislators later admitted that they hadn’t even had time to read through the hundreds of pages of the history-shaping bill before passing it the next month, yet somehow its authors were able to gather all the necessary information […]

Is peak disease forming?

Global equity markets have surged higher over the past 24 hours on the back of positive developments in the containment of COVID-19. Sunday saw a significant pull-back in new cases in Spain and Italy, while cases in the US (and New York) pulled back too. Indeed, the five countries with the largest confirmed cases (US, […]

Is a US-Saudi-Russia Production Cut Viable?

It’s not impossible, but it does remain unlikely. That’s according to analysts at Fitch Solutions Country Risk and Industry Research, who outlined the view in a report sent to Rigzone on Monday. “From the perspective of both Saudi Arabia and Russia, such a deal would represent a major strategic win,” the analysts stated in the […]

The Three Causes of Global Ecocide

In a recent post I questioned the well-known formula: Human Impact = Population x Affluence x Technology. But I don’t question that humans now have a severe impact on earth systems. So if not PAT, then what? Here I’m going to lay out some other factors that I suggest underlie our impact and our present predicament […]

The Policy and Politics of the COVID-19 Oil Market Crash

Two energy economists discuss supply, collusion, jobs, and the impact on gasoline prices This week’s blog post is a podcast.  Last Wednesday, I sat down (from a safe 2000 mile distance) with University of Chicago Professor (and Energy Institute alum) Ryan Kellogg to talk about how the sudden downturn in oil demand is affecting the […]

This Is The Biggest Economic Terrorist Attack In World History

As I continue to keep an eye on the coronavirus “news”, it gets clearer with each passing day just how far the mainstream media and associates are willing to push their agenda. If the fear-hyped propaganda continues at the rate we’re seeing now, we are almost guaranteed to experience much graver circumstances just around the […]

Keiser Report | Supply Chains: The Last Mile

In this episode of the Keiser Report, Max and Stacy look at the supply chains wobbling as the last mile fails to deliver. From getting the free money from the Fed past the Wall Street hoarders and into the hands of the small businesses idled by pandemic and a stop to the flow of money […]

Why everyone is now an amateur gardener during COVID-19

Whether it’s fear of an impending apocalypse, not being able to find what they want at the supermarket or simply having more time, an increasing number of Australians are turning their hands to growing their own fruits and vegetables. Landscaping and permaculture suppliers have reported an unprecedented demand over the past month from those with […]

This Is What The End Of The Oil Age Looks Like

The Oil Age has powered the world for well over a century. There have been two general schools of thought about how it will ultimately end. There were those who believed that oil production would peak and begin to decline in the face of high global demand. This is essentially the peak oil argument, which […]

Kunstler: Boomer Elegy

History will probably record that America’s Baby Boom generation threw one helluva party; Gen X was left with the sorry task of cleanup crew; and the Millennials ended up squatting in the repossessed haunted party-house when it was all over. On behalf of the Boomers, let me try to explain and apologize. We came along […]

China to Start Buying Oil for State Reserves After Crash

Beijing sets target to cover 90 days of net oil imports Could be expanded to 180 days when including commercial tanks China is moving forward with plans to buy up oil for its emergency reserves after an epic price crash, according to people with knowledge of the matter. The world’s biggest importer is taking advantage […]

Move over Peak Oil, now there’s too much of it

The world’s thirst for oil has evaporated. Highways are empty. Planes are grounded. Factories are dark. The unprecedented collapse in oil demand has sent crude crashing to 18-year lows. Supply, on the other hand, remains largely resilient amid a price war between Saudi Arabia and Russia. US producers don’t want to be the first to […]

Is the U.S. Fracking Boom Based on Fraud?

In a 2016 interview with Fraud Magazine, former Enron CFO Andrew Fastow explained what he thought made him so successful while at the former energy corporation that’s now infamous for financial scandal. “I think my ability to do structured financing, to finance things off-balance sheet and to find ways to manipulate financial statements — there’s no nice way to […]

The Oil Collapse

The global oil market has never in history collapsed as precipitously as it has right now. The oil and gas industry, which provides almost 60 percent of the world’s energy, is engulfed in a double crisis that would have been dismissed as unthinkable at the start of this year. A price war, with producing nations […]

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